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Housing Glossary

You will find information here on all topics relating to housing in Barcelona

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Accrued interest

The interest applied as a penalisation when the debtor does not comply with repayment obligations. The amount must be established in the contract.

Active supermortgage

This allows the client to choose their loan's benchmark index (MIBOR at three months, six months or a year) so that payment can benefit from lower interest rates sooner.

Adaptable instalment

Characteristic of UCI superloans that allow the borrower to not pay one instalment a year for the first three years if there are problems due to holidays, extraordinary expenses, etc.

Advanced cancellation fee

A commission arising from the financial risk involved in the advanced cancellation of an operation. The applied commission compensates the financial institution for its financial losses.

AEDE

Direct state aid for paying the deposit on a property.

Affordable housing

Group of social housing or dwellings from social renovation projects that are sold or rented at below-market prices.

Affordable rent

The cost of renting these dwellings is below market prices after being included in operations concerning the rented flat pool, social renovation or social housing promotions.

Amortisation

Payment made to repay a loan.

Amortisation period

The duration of the loan. The contract establishes the date of the first and last payments. The longer the period, the lower the payments are, but the higher the interest. You therefore pay more in the end. The monthly instalment should not exceed 35% of your net income.

API

Estate agent. A qualified professional who acts as an intermediary between the two interested parties to facilitate the signing of a real estate contract, which can be a rental agreement, a sales agreement or another similar contract. They usually charge a percentage of the sales price as compensation or commission.

Applicant

A citizen who makes a registration application to the Barcelona Social Housing Applicants Registry, and who represents the other members of the dwelling unit included in the application.

APR

Annual Equivalent Rate. Effective annual cost of the mortgage in terms of interest, commissions and the repayment period. To compare loans, it is not enough to just look at the lowest APR, you also have to compare the conditions, the repayment period and the distribution of instalment payments.

Arbitri municipal de plusvàlua

Former denomination of the capital gains tax on landed property.

Assessment

The value of a dwelling certified by a specialised assessment company, in accordance with the mortgage market law. This certificate not only indicates the real value of the property, it also serves as a reference for obtaining the necessary financing.

Authorisation

Document in which the owner authorises the tenant to carry out building work in the dwelling's interior.

Close glossary

Housing offices only offer face-to-face assistance by prior appointment, so check out the “Housing calls you” service here to receive the most appropriate personalised assistance. If you also need assistance in energy rights, book an appointment with an energy-advice point (PAE) by clicking here. On the other hand, if you reside in an IMHAB public dwelling you can consult our contact, management and processing channels here.​

A boost to the public housing stock with the purchase of four buildings in L’Eixample

28/07/2021 - 11:29

Housing. The buildings are in the neighbourhoods of Sant Antoni, Nova Esquerra de l’Eixample and Dreta de l’Eixample, providing 67 homes in all.

The city’s public housing stock is being bolstered through the purchase of four buildings in L’Eixample by the Municipal Institute for Housing and Renovation. Between them, the properties have 67 homes (25 of them empty) and 7 commercial premises, located in the neighbourhoods of Sant Antoni, Nova Esquerra de l’Eixample and Dreta de l’Eixample.

The operation is part of the strategy to increase the amount of public housing in the city, protect local people in the densest parts of the city and in areas affected by gentrification, ensuring the continuity of the 52 households currently living in the buildings. These tenants will have their rental contracts subrogated, avoiding the consequences of gentrification and property speculation, with an affordable social housing regime to apply to the other 25 homes, for people and families needing to access housing.

The purchase of the four buildings and the renovation work needed, although they are generally in good repair, represents an investment of 21.6 million euros. The amount is below market value, with a saving of between 31% and 38%, based on the average price per square metre for property sales in the neighbourhood in question in 2020.

Nearly a thousand homes bought in five years

The public housing stock has been bolstered by nearly a thousand homes since 2016, with the acquisition of 958 homes involving an investment of 91.2 million euros. This brings the number of municipally managed homes to nearly ten thousand. The increase was possible thanks to the municipal purchasing strategy, backed up at the end of 2018 with the declaration of the whole city as an area where the right to first refusal applies. This makes it possible for the City Council to intervene in housing sales processes and halt property speculation.

These latest acquisitions mean that L’Eixample, one of the densest districts in the city and with the least public land available for new protected housing, will have gained over a hundred homes (7 blocks purchased, with 112 homes in all). The districts where the most homes have been purchased since 2015 are Sants-Montjuïc (221), Nou Barris (190) and Ciutat Vella (156). In terms of whole buildings, Ciutat Vella tops the list with 10, followed by Sants-Montjuïc and L’Eixample with 7 each.

 

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